This blog is all about economic and financial events happening in Mongolia.

Wednesday, June 11, 2014

Mongolia Brief June 11, 2014 Part II

Women’s
Empowerment Training Runs Here

Ulaanbaatar,
June 11 (MONTSAME) A ‘Women’s Economic Empowerment’ training has begun in
Bishrelt hotel on June 11.

The training
has been organized in collaboration of the Government of Mongolia, the National
Gender Committee, and the Asia Foundation.

Based on the
recommendations of participants of the training, a sub-strategy for 2016 will
be developed with goals to secure gender equality in economic activities, to
equally allot the resources of banking, financial and loan policies, and other
economic opportunities, and to promote women’s economic empowerment.

During the
two-day training, participants are expected to make presentations under various
topics including ‘human rights, gender and governance’, ‘tax relief, exemption
and incentive for small and medium enterprises (SME)’, and ‘SME social
insurance and wages’.

Here
Comes Mongolia-India Business Forum

Ulaanbaatar,
June 11 (MONTSAME) A Mongolia-India business forum is scheduled to run in the
National Chamber of Commerce and Industry on Thursday.

Organized by
the commerce chambers of Mongolia and India, the forum will discuss cooperation
development with India, and tendencies in imports and exports between the two
countries, within goals to broaden economic, commercial and business
relationship between Mongolia and India.

National
Triathlon Championship to Run in Arkhangai

Ulaanbaatar,
June 11 (MONTSAME) The national triathlon championship 2014 is scheduled to
take place in central Arkhangai province July 19-20.

The Ogii Lake
of the province hosted the previous national triathlon championship in 2013.
This year, in the championship, Mongolian triathletes will compete at three
events of swimming, biking and running in/near the Ogii Lake.

The triathlon
championship has been included a national tournament program for 2014 earlier
approved by the Ministry for Culture, Sports and Tourism.

Tagir
Khaybulaev to Compete at Chinggis Khaan Grand Prix

Ulaanbaatar,
June 11 (MONTSAME) The Chinggis Khaan grand prix judo tournament is scheduled
to take place in Ulaanbaatar on July 4-6.

One of the most
anticipated wrestlers to honor the event is Tagir Khabulaev (29) of Russia. The
Russian judoka of Avar descent bagged his country's 3rd gold medal by defeating
the defending champion N.Tuvshinbayar of Mongolia to win the men's under -100kg
Olympic judo title in 2012 Summer Olympics.

Another judoka
likely to compete in men’s under -100 kg event of the Chinggis Khaan Grand Prix
is Dimitri Peters from Germany who became third at 2012 Summer Olympic,
following Khabulaev and Tuvshinbayar.

Poland-Based
Mongolians Celebrate "Naadam" Festival

Ulaanbaatar,
June 11 (MONTSAME) Poland-based Mongolians celebrated the 808th anniversary of
the Great Mongolian Empire and the 93rd of the People's Revolution in Warsaw
city on June 7.

Some
traditional competitions, including wrestling and ankle bone shooting, were run
at the event.

At the
celebration with over 300 citizens of Warsaw city, our folk band “Dunjingarav”
and talented Mongolian students studying in this country gave art performances
such as folk songs, morin khuur, throat singing, dancing and national musical
instruments.

Furthermore,
presentations on the topics about Mongolian life style, “Naadam” festival,
traditional costumes and custom were introduced to the participants.

D.Davaanyam
Grabs Bronze in Usti Nad Labem Grand Prix

Competed in the
men’s 69 kilo contest, Davaanyam had a bye in the first bout. He was defeated
by a Georgian opponent Gela Abshidze at the semi-finals. Later, the Georgian
captured the gold medal by beating an Armenian boxer Arman Darchinyan.

Other two
boxers O.Norovbal (men’s 64 kg) and B.Bilgiin (56 kg) did not win a medal.

Mongolian
Band to Celebrate 8th Anniversary

Ulaanbaatar,
June 11 (MONTSAME) A Mongolian indie rock band ‘A Sound’ is planning to present
their fans a so-called ‘Eight Years’ concert in National Recreation Park on
June 13-14.

During the
concert to be staged at the ‘Black Pearl’ ship in the Park, the band will
entertain the audience with their hit songs including ‘Forever’, ‘Uyanga’
(Melody) and ‘Shine On’.

“A Sound” has
had success in Mongolia with songs and albums released in both Mongolian and
English versions. Their songs' smooth melody and emotional lyrics are most
influenced in the band's great success in brief time.

A-Sound put out
their debut album in July 2008: Release. It was the first Mongolian rock album
to feature some songs in English. The album featured many popular songs,
including: "Uyanga," "Shine On" and "Forever."

In early 2009,
a deluxe version of Release was put out and featured two bonus live cuts. Later
in 2009, A-Sound began recording a follow up album, but after becoming
unsatisfied with the results, scraped it.

“Mongolian
Coins and Banknotes” exhibition opens

June 11
(news.mn) An exhibition of “Mongolian Coins and Banknotes” is opening at the
Mongolian State History Museum at the State Palace in Ulaanbaatar, for the
occasion of the 90th anniversary of the founding of the Bank of Mongolia and
the banking system in Mongolia.

The curator of
the exhibition is the Bank of Mongolia and the Mongolian Association of
Numismatics.

At the
exhibition, works by “Tort Eus Khaadin San” (Төрт Ёс Хаадын Сан), images of the
Great Khans of the Mongol Empire, who were descendants of Chinggis Khaan`s
Golden Family, will be displayed for the first time.

Golden, silver
and copper coins from the Mongol Empire XIII-XIV centuries are considered to be
unique subject of research because of their exclusive designs, popularity,
metal, weight, size and engravings in International Numismatic Studies.

Recently there
are more and more collectors of ancient Mongol Empire coins. As coins were
engraved with the names and honors of its rulers, city, location and dates,
coins can tell us a lot about history.

Each coin from
the ancient Mongol Empire is a most precious source of historical research
about Mongolia in XIII-XIV century.

The
macroeconomic indicators show stable growth

June 11
(Mongolian Economy) In May 2014, the national consumer price index rose 1.5
percent from the previous month, totaling a 13.7 percent increase from the
previous year. This percentage increase is largely due to higher prices in
goods and services such as food and nonalcoholic beverages, restaurants and
hotels, and other miscellaneous products according to National Statistical
Office monthly release.

According to a
report from the Bank of Mongolia, money supply reached 10233.3 billion togrog,
representing a 0.3 percent increase from the previous month. Circulated
currency reached higher levels as well, totaling 863.0 billion togrog, a 2.5
percent increase from April 2014. Loans outstanding amounted to 12053.4 billion
togrog, which is a 2.6 percent increase from the previous month.

These
indicators are rising at quick levels as principals in arrears amounted to
380.6 billion togrog, equivalent to a 27.3 percent increase from April 2014.
Nonperforming loans reached 619.7 billion togrog, rising 0.6 percent from the
previous month.

Many of the
macroeconomic indicators show stable growth. Revenues increased as equilibrated
revenue and grants of the General Government Budget totaled 2177.5 billion
togrog. Total expenditure and net landing of the budget came out to 2284.5
billion togrog. This represents a deficit of 106.9 billion. As subsidies
and transfers rise as well as expenditure on goods and services, the total
expenditure and net landing continues to grow.

External trade
balance presents a similar story. In the first 5 months of 2013, there was a
deficit of 824.7 million USD. However, within the first five months of this
year, deficits added up to 204.0 million USD, a 620.8 million USD decrease.

The
industrial production picked up across many sectors

June 11
(Mongolian Economy) Economic sectors present a wide diversity in statistical
analysis. Adult animals in Mongolia have shown a decrease in the amount of
deaths. In the first 5 months of this year, 226.0 thousand heads have been
declared, a 50.3 percent decrease from the same period in the previous year.
The industrial production index increased 13.3 percent in May from the previous
year, representing an increase in the amount of production across many economic
sectors, says NSO of Mongolia.

In the mining
sector, mining of resources such as coal, crude oil, and copper with
concentrate had an increase of 1.6-88.5 percent. The production of other
products including bakery products, milk, and flour rose 3.0 percent in the
manufacturing sector compared to the previous year, contributing the rise in
the industrial production index.

The
transportation sector also saw rises in the amount of passengers and freight
carried by rail. 7750.9 thousand tons of freight and 1360.6 thousand passengers
were assisted by railway, rising 5.6 and 11.7 percent respectively. However,
air transport saw decreases, showing that 1338.8 tons of freight and 248.2
thousand passengers were assisted. This represents an 11.1 percent and 9.6
percent drop from the previous month, respectively.

In other terms,
the daily average concentration of nitrogen oxide exceeded acceptable level of
air quality standards in areas around the city. Sulpher dioxide also exceeded
acceptable levels. In the first 5 months of the year, 2152 disasters and
accidents occurred resulting in the death of 46 people and 11999 livestock and
animals. The government spent a total of 394.4 million togrog on these
disasters and accidents.

Mongolian
Citizens No Longer Pay Entrance Fee of 5 CNY to

Erlian
City

June 11 (infomongolia.com)
The State Great Khural (Parliament) of Mongolia ratified a Law on Border Port
during the last autumn plenary sessions and in the scope of effectiveness of
the new law (from April 01, 2014), it cites “A border port with international
status is to have an administration organ”.

Accordingly, an
administrative organ is set up at Zamyn-Uud border port and has been operating
since June 01, 2014.

Newly opened
Zamyn-Uud Border Port Administration authorities accomplished its first work
negotiating with China part (Erlian Border Port) to annul entrance fee of 5 CNY
per traveler from Mongolian citizens, which is effective from June 10, 2014.

Thus, a citizen
of Mongolia is authorized not paying any fees to enter Erlian (Erenhot or
Ereen) City, Inner Mongolia Autonomous Region of China and according to data,
Mongolian nationals used to pay about 12 million CNY or 2 million USD annually,
which were collected from only 5 CNY entrance fee per person.

Business-to-Business
Meeting between Mongolian and South Korean Entrepreneurs to Be Organized by KOTRA
Ulaanbaatar

June 11
(infomongolia.com) The KOTRA Ulaanbaatar Business Center is hosting a
Business-to-Business Meeting between Mongolian and South Korean entrepreneurs
at the Chinggis Khaan Hotel in Ulaanbaatar on July 03, 2014.

At this В2В
meeting, 8 enterprises from Korea are claimed to participate to promote and
introduce their products and services to Mongolian market.

In April 2014,
the KOTRA Ulaanbaatar in collaboration with Mongolian National Chamber of
Commerce and Industry had also organized a "One-to-One" meeting
between business representatives from Mongolia and South Korea.

South
Korean K-Pop Girls Fiestar Band to Co-Celebrate Korean Culture Day in
Ulaanbaatar

June 11
(infomongolia.com) In the frameworks of organizing its Cultural Days, the
Embassy of the Republic of Korea in Ulaanbaatar is hosting the third Korean
Culture Day under “Beautiful Country - Korea” at the National Amusement Park
that aims to introduce Korean culture to Mongolians on this Saturday, June 14,
2014.

As part of
events, a drawing contest will be organized among secondary school children,
which to start at 02:00 pm, and 16 contestants will be awarded. Later, an
opening ceremony will commence at 04:00 pm introducing Korean traditional food,
dance and taekwondo performances.

Also, a contest
will be held to select Mongolian participants to compete in the "K-Pop World
Festival" traditionally hosted by KBS television and winners will be
granted to participate in the K-Pop Festival in Korea in coming autumn.

Moreover, this
year’s main surprise is inviting South Korean K-pop girls Fiestar band to stage
at the National Amusement Park in the evening of June 14, 2014. The Culture Day
will be broadcasted live via Korean KCBN and local UBS televisions.

Deputy
Premier D.Terbishdagva meets his counterpart of Kyrgyzstan

Ulaanbaatar,
June 11 (MONTSAME) The Deputy Prime Minister of Mongolia D.Terbishdagva
Wednesday met with visiting his counterpart of the Republic of Kyrgyzstan Mr
T.D.Sarpashev.

The Deputy
Premier expressed thanks to Mr Sarpashev for visiting Mongolia, and then
mentioned that Mongolia has become one of the leading countries with the
highest economic growth. He said the countries are possible to develop their
cooperation in the economy, agriculture, industry, tourism and trade sectors.

At the meeting,
the parties discussed a present socio-economic situation in Mongolia and
Kyrgyzstan, the bilateral relations and cooperation, and issues of registration
bodies.

Mr Sarpashev
noted that some 20 years passed since the countries established the diplomatic
relations as well the Treaty on Friendly Relations and Cooperation, and
emphasized the Mongolia-Kyrgyzstan cooperation has been intensifying in many
spheres.

The visit of
the delegation led by Mr Sarpashev will continue until Thursday. Within the
visit, they will leg the General Election Commission (GEC), the State
Registration Agency (SRA) and organizations of health.

Consular
Department director visits China’s Guangdong province

Ulaanbaatar,
June 11 (MONTSAME) Director of the Consular Department of the Mongolia’s
Ministry of Foreign Affairs Sh.Sukhbaatar has visited China’s Guangdong
province.

On Tuesday, he
held a meeting with Mr Hu Wei, a deputy chairman of the foreign affairs
division at the government of China’s Guangdong province, on activating an
intergovernmental agreement between the governments of Mongolia and China’s
Macau to combat human trafficking. Earlier, the Consular Department of Mongolia
and authorities of the Macau’s Security Authority had reached a specific
agreement on the matter.

Because of a
boosting of the commercial and economic ties and increasing of flow of mutual
visits, Mongolia needs to open its consular representative in Guangzhou city.
So, the two sides exchanged on seeking an opportunity to open a consulate of
Mongolia in the city.

Tuva
governmental chairman awarded Polar Star Order

Ulaanbaatar,
June 11 (MONTSAME) The Polar Star Order of Mongolia has been bestowed upon Mr
Sholban Kara-ool, chairman of the government of Russian Tuva Republic.

Pursuant to a
decree of the President Ts.Elbegdorj, the state order is awarded to him for
strengthening the friendly ties between Mongolian and Tuva people and
developing the regional cooperation between Tuva and Uvs aimag.

Consulate-General
of Mongolia to Kyzyl city D.Ganbold granted the Order to Mr Sholban Kara-ool on
Tuesday.

The total
market capitalization was set at MNT one trillion 520 billion 418 million 463
thousand and 679. The Index of Top-20 JSCs was 14,899.81, decreasing by MNT
97.44 or 0.65% against the previous day.

Mongolians
to attend Asian Junior Exchange Games

Ulaanbaatar,
June 11 (MONTSAME) The Mongolian Badminton Federation organized on June 7 an
athlete selection for the upcoming Asian Junior Exchange Games.

Six best
athletes out of thirty young people under 15 were given rights to represent
Mongolia in the Asian Junior Exchange Games this August in Tokyo, Japan from
August 31 to September 2.

The team
includes B.Monkhbold, U.Bat-Urel, D.Dashnyam, B.Narantsesteg, O.Janchiv and
D.Bulgamaa, who compete at the tournament against young players from 16 Asian
cities such asBangkok, Delhi, Hanoi, Jakarta, Kuala Lumpur, Manila, Seoul,
Singapore, Taipei, Yangon, Macau, Iwate, Miyagi, Fukushima, Ibaraki and Tokyo
in preliminary elimination matches and final playoff matches.

The overall aim
of the undertaking is not only to foster sports-related technical and mental
skills, but also encourage international friendships among youth of different
nationalities, in the true spirit of the Olympic Movement.

Mongolian
shooter wins medals in IPC Shooting World Cup

Ulaanbaatar,
June 11 (MONTSAME) A master of sport Z.Ganbaatar from the “Avarga” club
captured a gold medal in the IPC Shooting World Cup held June 1-7 in Fort
Benning city, USA.

The Mongolian
shooter competed in the men’s 50 meters classic pistol event, collecting a
total of 178.2 points at ten rounds. Before this, he had grabbed a bronze medal
in the men’s 10 m pistol event, where a Norwegian shooter won a gold medal with
198.6 points.